Social Indicators for Barbados, Antigua, & Barbuda
Economic indicators are statistics about economic activity that serve to allow analysis of current economic performance as well as future economic performance. Social Indicators incorporates social welfare into the economic equation in trying to determine the relative health of an economy. Antigua & Barbuda and Barbados has a diverse society that affects their economy in a variety of ways. But what does the region’s social indicators tell us about the broader economy? What social indicators can be used to help determine the strength or weakness of the economy?
Currently, Antigua & Barbuda is ranked 67th in the world in the Human Development index while Barbados is ranked 38th in the world. The Human Development Index attempts to broaden debate concerning the health of an economy beyond GDP by combining data on life expectancy at birth, adult literacy, educational enrollment, and average income. On an international scale, Antigua & Barbuda and Barbados compares very favorably. Based on this ranking, one could conclude that this social indicator suggests a healthy economy. But that is only one indicator.
As pointed out, life expectancy at birth is a part of the Human Development Index that allows analysis of the current economy. Interestingly enough, social indicators such as life expectancy at birth and infant mortality rate are also indicators of the health system in a particular country. And obviously spending on health care is typically a significant percentage of GDP in first world countries. The percentage of GDP assigned to healthcare for Antigua & Barbuda and Barbados is 6% and 8% respectively. The infant mortality rate is 13.72 deaths for Antigua & Barbuda and 11.13 deaths per 1,000 live births for Barbados. Those infant mortality rates are some of the lowest in the world, which is a positive indicator of the healthcare in those countries! According to the World Factbook Antigua & Barbuda’s...
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